Jiangsu Shagang Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Operating Revenue	12,770	13,297	14,223	16,108	17,367	13,378
Other Revenue	1,119	1,119	1,394	2,065	1,120	1,049
Revenue	13,888	14,416	15,617	18,173	18,487	14,427
Revenue Growth (YoY)	-6.73%	-7.69%	-14.07%	-1.70%	28.14%	7.07%
Cost of Revenue	12,735	13,756	14,635	16,630	15,194	12,548
Gross Profit	1,153	660.01	981.43	1,543	3,293	1,879
Selling, General & Admin	278.97	267.43	270.39	266.65	299.87	221.35
Research & Development	546.97	533.45	528.37	562.13	545.94	165.36
Other Operating Expenses	-44.71	-55.72	20.18	61.01	72.24	71.18
Operating Expenses	780.32	751.25	820.52	891.43	916.42	447.24
Operating Income	372.88	-91.24	160.91	651.7	2,377	1,431
Interest Expense	-131.41	-114.83	-100.01	-47.52	-40.98	-25.64
Interest & Investment Income	433.65	444.08	318.39	210.71	224.25	208.52
Currency Exchange Gain (Loss)	8.6	8.6	3.18	0.92	-0.72	-2.74
Other Non Operating Income (Expenses)	-21.55	-4.49	-6.33	-5.96	-2.84	-1.84
EBT Excluding Unusual Items	662.17	242.11	376.14	809.85	2,557	1,610
Gain (Loss) on Sale of Investments	-16.9	-43.32	44.78	-16.1	37.72	-8.55
Gain (Loss) on Sale of Assets	1.61	1.4	-0.12	-	-	-
Asset Writedown	-92.89	-8.94	-119.99	-5.87	-1.51	-47.43
Legal Settlements	-0.29	-0.29	-0.88	-1.1	-1.28	-0.62
Other Unusual Items	61.08	44.71	75.76	89.6	52.98	27.59
Pretax Income	614.76	235.66	375.69	876.38	2,645	1,581
Income Tax Expense	112.82	53.88	57.2	74.53	533.08	367.36
Earnings From Continuing Operations	501.94	181.78	318.49	801.85	2,112	1,213
Minority Interest in Earnings	-213.64	-19.2	-93.46	-348.75	-999.25	-563.91
Net Income	288.3	162.58	225.03	453.1	1,112	649.52
Net Income to Common	288.3	162.58	225.03	453.1	1,112	649.52
Net Income Growth	98.77%	-27.75%	-50.34%	-59.27%	71.25%	22.81%
Shares Outstanding (Basic)	2,322	2,323	2,250	2,158	2,181	2,165
Shares Outstanding (Diluted)	2,322	2,323	2,250	2,158	2,181	2,165
Shares Change (YoY)	3.13%	3.22%	4.29%	-1.07%	0.74%	-1.75%
EPS (Basic)	0.12	0.07	0.10	0.21	0.51	0.30
EPS (Diluted)	0.12	0.07	0.10	0.21	0.51	0.30
EPS Growth	92.74%	-30.00%	-52.38%	-58.82%	70.00%	25.00%
Free Cash Flow	1,281	-49.72	-868.19	219.87	2,141	1,477
Free Cash Flow Per Share	0.55	-0.02	-0.39	0.10	0.98	0.68
Dividend Per Share	0.050	0.050	0.050	0.050	0.080	0.100
Dividend Growth	-33.33%	-	-	-37.50%	-20.00%	-0.20%
Gross Margin	8.30%	4.58%	6.28%	8.49%	17.82%	13.02%
Operating Margin	2.69%	-0.63%	1.03%	3.59%	12.86%	9.92%
Profit Margin	2.08%	1.13%	1.44%	2.49%	6.02%	4.50%
Free Cash Flow Margin	9.22%	-0.34%	-5.56%	1.21%	11.58%	10.24%
EBITDA	1,135	589.38	732.82	1,130	2,829	1,857
EBITDA Margin	8.17%	4.09%	4.69%	6.22%	15.30%	12.87%
D&A For EBITDA	762.16	680.62	571.9	478.56	452.25	425.17
EBIT	372.88	-91.24	160.91	651.7	2,377	1,431
EBIT Margin	2.69%	-0.63%	1.03%	3.59%	12.86%	9.92%
Effective Tax Rate	18.35%	22.86%	15.23%	8.50%	20.16%	23.24%
Revenue as Reported	13,888	14,416	15,617	18,173	18,487	14,427

Source: S&P Global Market Intelligence. Standard template. Financial Sources.